Montage Receives Notice Of Delisting From NASDAQ

Montage Technology Group Limited

("Montage Technology" or "Montage" or the "Company"), a global fabless provider of analog and mixed-signal semiconductor solutions addressing the home entertainment and cloud computing markets, today announced that on October 1, 2014, Montage Technology Group Limited (the "Company") received a letter from the NASDAQ Stock Market LLC ("NASDAQ") indicating that, unless the Company requests a hearing before a NASDAQ Listing Qualifications Panel (a "Hearings Panel") by October 8, 2014, the Company's ordinary shares will be delisted due to the Company's noncompliance with NASDAQ Listing Rule 5250(c)(1) as a result of the Company's inability to timely file its annual report on Form 10-K for the year ended December 31, 2013, and Form 10-Qs for the periods ended March 31, 2014 and June 30, 2014 with the Securities and Exchange Commission ("SEC"). NASDAQ's delisting determination will not immediately result in the delisting of the Company's ordinary shares. The Company intends to commence such an appeal by the required deadline, which is within seven days of the date of the notice. NASDAQ will generally suspend the delisting for a period of 15 days following the date of the hearing request. NASDAQ also has the discretion to grant a suspension of the delisting until a determination is made by the Hearings Panel. The Company expects to request to suspend the delisting through the decision date of the Hearings Panel and may request additional time for its independent auditors to complete their audit and review procedures concerning the Company's financial statements. Under NASDAQ rules, a Hearings Panel has discretion to grant an additional extension, which cannot exceed 360 calendar days from the original non-compliance date. There can be no assurance that the NASDAQ Hearings Panel will grant the Company's request for a suspension of delisting or continued listing on NASDAQ. As previously disclosed, NASDAQ had granted the Company until September 29, 2014 to regain compliance with NASDAQ Listing Rule 5250(c)(1). The Company indicated the Form 10-K and Forms 10-Q cannot be finalized until the completion of the review by the audit committee of the Company's board of directors of previously-disclosed allegations and related matters, and the completion of the audit of the Company's financial statements for the year ended December 31, 2013 and the review of the Company's financial statements for the periods ended March 31, 2014 and June 30, 2014. The audit committee plans to complete its report on the audit committee's review on or around October 4, 2014 and thereafter present its conclusions to the Company's independent auditors.